Technical analysis of Nifty for 26th May - Summary with both breakout and breakdown scenarios
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### 📊 **Nifty 50 (15-Min Chart) – Flag & Pole Pattern Analysis**
**Pattern**: Bullish Flag & Pole
**Pole Height**: \~442 pts
**Flag Range**: ₹24,820 – ₹24,905
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### ✅ **Scenario 1: Breakout**
* **Breakout Above**: ₹24,905
* **Target**: ₹24,991
* **Stop Loss**: ₹24,905
* **Comment**: Valid **flag & pole continuation** only if price sustains above ₹24,905 with volume.
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### ❌ **Scenario 2: Breakdown**
* **Breakdown Below**: ₹24,820
* **Target**: ₹24,735
* **Stop Loss**: ₹24,820
* **Comment**: Failure to hold the flag’s lower range can trigger a short-term **bearish move**.
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📌 **Note**: Wait for **a decisive candle close** and **volume confirmation** above or below key levels before taking a position.
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### 📊 **Nifty 50 (15-Min Chart) – Flag & Pole Pattern Analysis**
**Pattern**: Bullish Flag & Pole
**Pole Height**: \~442 pts
**Flag Range**: ₹24,820 – ₹24,905
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### ✅ **Scenario 1: Breakout**
* **Breakout Above**: ₹24,905
* **Target**: ₹24,991
* **Stop Loss**: ₹24,905
* **Comment**: Valid **flag & pole continuation** only if price sustains above ₹24,905 with volume.
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### ❌ **Scenario 2: Breakdown**
* **Breakdown Below**: ₹24,820
* **Target**: ₹24,735
* **Stop Loss**: ₹24,820
* **Comment**: Failure to hold the flag’s lower range can trigger a short-term **bearish move**.
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📌 **Note**: Wait for **a decisive candle close** and **volume confirmation** above or below key levels before taking a position.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.